Vancouver has consistently been ranked as one of the world's most desirable cities to live and work.
Vancouver's GDP consistently outpaces the national average. In 2023, for example, Vancouver's GDP grew by 3.5% compared to 2.8% for Canada as a whole. The tech sector has been the one that experienced the fastest growth, thanks to numerous startups and established companies, which employs over 100,000 people.
The unemployment rate consistently remains below the national average, 4.8%, compared to 5.2% for Canada. And in the last months, there has been an increase of 2.5% new jobs according to a recent report by CBRE.
While Vancouver's cost of living is higher than some other Canadian cities, it is still considered relatively affordable compared to many international metropolises. According to a recent Mercer survey, Vancouver ranked 10th in the world for cost of living among major cities.
The cost of living in Vancouver, BC is 15% higher the national average.
| Cost of Living in Vancouver, BC | Compared to National Average |
|---|
| Housing (Buy and Rent) | 60% higher |
| Utilities (Monthly) | 2% higher |
| Food | 26% higher |
| Transportation | 9% higher |
More data and info at
wowa.ca